US EditionTrump insists ‘it’s all going to work out really well’ and admits to ‘transition costs’ to get new trade deals
- President Trump postponed his global reciprocal tariff package for 90 days, maintaining a 10% rate on most imports and a possible increase in duty on China to 145%.
- The Dow Jones Industrial Average dropped 2.5%, and the S&P 500 fell almost 3.5%, indicating a market reaction to the president's trade announcement.
- Trump admitted there will be transition costs and transition problems but believes the tariffs will result in a beautiful thing for the economy.
- He mentioned a desire to work out a deal with China, stating they have taken advantage of our country for a long period of time.
51 Articles
51 Articles
Trump has 90 days to do 150 trade deals. Financial markets aren’t buying it
President Donald Trump and his advisers said this was the plan all along: Scare the bejesus out of the world by announcing astronomically high tariffs, get countries to come to the negotiating table, and — with the exception of China — back away from the most punishing trade barriers as America works out new trade agreements around the globe.
Trump concedes 'transition problems'
President Donald Trump claimed victory over Europe in the US tariffs war but acknowledged a "cost" to his surging trade offensive against superpower rival China as markets plunged again Thursday. Trump sought a victory lap at a White House cabinet meeting, saying the European Union had backed off from imposing retaliatory tariffs because of his tough stance on China. "They were very smart. They were ready to announce retaliation. And then they h…
Trump recognizes ‘transition problems’ after tariffs on China: ‘It will cost, but it will be wonderful’
U.S. President Donald Trump admitted Thursday that there will be a “cost and transition problems” for his tariff policy, especially aggressive against China, after he increased tariffs on the Asian giant from 84 percent to 125 percent. During a meeting with his cabinet open to the press, the U.S. president said he trusts that his country and China will end up negotiating “something very beneficial for both nations” and added that he has “great r…
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